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Real Estate Maryland Real Estate Salesperson Examination Sample Questions:

1. In the sales comparison approach, the appropriateness of the various comparable sales in relationship to the subject is considered in a process known as ______, where certain factors may be given more weight.

A) Bracketing
B) Reconciliation
C) Conformity
D) Averaging

2. Janice's life tenant, Jacob, is currently living on her property. Once Jacob dies, Janice has arranged for the property to be given to the School for the Gifted. What interest does the School for the Gifted currently have?

A) Possession
B) Ownership
C) Remainder
D) Reversionary

3. Why would a retail tenant be willing to sign a lease in which a percentage of sales proceeds are paid to the landlord?

A) The tenant is hoping to eventually purchase the building.
B) The tenant wants to reduce the base rent.
C) The landlord and tenant are in business together.
D) The tenant wants to show the landlord how viable the business is.

4. Disclosing which of the following facts would be considered a fair housing violation?

A) The current owner has HIV.
B) The property has been treated for pests.
C) The kitchen was remodeled five years ago.
D) The roof was replaced last year.

5. Edgar is in the process of selling his home in a short sale. What's a short sale?

A) A property sale that occurs in less than one week
B) The forced sale of a home due to the borrower defaulting on the mortgage loan
C) The sale of a property at an amount less than is owed, not including closing costs
D) A sale that fails to receive a high enough bid at auction, and then falls to the bank's ownership

Solutions: